Why Retail Stores are Still Needed
Retail and commercial real estate has been greatly affected by online shopping. Online shopping makes the shopping process more convenient, but also allows stores to showcase their products. Online shopping has allowed retail stores to become a haven for shopping, with a store's website being the first step in the shopping process. Today's news tends to focus on the decline of retail stores, but 78% of the top retailers in the US are optimistic about their future. Only 7% of top retailers were pessimistic about the future of conventional retail space. Their optimism is rightly placed. While online shopping is on the rise, 90% of global retail spending still takes place in tradition commercial/retail space. Retailers will adapt to allow online shopping to be catalyst of growth rather than a death sentence.